Johnson Investment Counsel Inc. Decreases Stock Position in The J. M. Smucker Company (NYSE:SJM)

Johnson Investment Counsel Inc. lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,805 shares of the company’s stock after selling 388 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in J. M. Smucker were worth $2,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stokes Family Office LLC boosted its stake in shares of J. M. Smucker by 2.5% during the 1st quarter. Stokes Family Office LLC now owns 2,622 shares of the company’s stock valued at $413,000 after buying an additional 65 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of J. M. Smucker by 0.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,078 shares of the company’s stock valued at $2,845,000 after buying an additional 66 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of J. M. Smucker by 0.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 20,510 shares of the company’s stock valued at $3,228,000 after buying an additional 66 shares during the last quarter. Wambolt & Associates LLC boosted its stake in shares of J. M. Smucker by 1.7% during the 2nd quarter. Wambolt & Associates LLC now owns 4,009 shares of the company’s stock valued at $592,000 after buying an additional 66 shares during the last quarter. Finally, Dfpg Investments LLC boosted its stake in shares of J. M. Smucker by 1.5% during the 2nd quarter. Dfpg Investments LLC now owns 4,563 shares of the company’s stock valued at $683,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on J. M. Smucker from $135.00 to $125.00 and set a “hold” rating for the company in a research note on Thursday. Bank of America cut J. M. Smucker from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $145.00 in a research note on Thursday, September 14th. TD Cowen started coverage on J. M. Smucker in a research note on Wednesday, September 13th. They set an “outperform” rating and a $158.00 price objective on the stock. The Goldman Sachs Group raised their price objective on J. M. Smucker from $129.00 to $130.00 in a research note on Tuesday, August 29th. Finally, Barclays reduced their price objective on J. M. Smucker from $160.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and an average price target of $144.38.

Insider Activity

In other news, insider Amy C. Held sold 9,917 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $143.80, for a total transaction of $1,426,064.60. Following the transaction, the insider now directly owns 5,972 shares of the company’s stock, valued at $858,773.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.50% of the company’s stock.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $111.69 on Friday. The J. M. Smucker Company has a 1-year low of $107.33 and a 1-year high of $163.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 0.72. The business’s fifty day moving average price is $117.56 and its two-hundred day moving average price is $137.93. The firm has a market capitalization of $11.41 billion, a PE ratio of -657.00, a P/E/G ratio of 1.79 and a beta of 0.32.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.19. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. J. M. Smucker had a positive return on equity of 12.96% and a negative net margin of 0.21%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. On average, research analysts expect that The J. M. Smucker Company will post 9.67 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Thursday, November 16th. J. M. Smucker’s dividend payout ratio (DPR) is -2,494.12%.

J. M. Smucker Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.